NBC Securities Inc. Has $1.56 Million Stock Position in General Mills, Inc. (NYSE:GIS)

NBC Securities Inc. raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,088 shares of the company’s stock after buying an additional 570 shares during the quarter. NBC Securities Inc.’s holdings in General Mills were worth $1,557,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Rise Advisors LLC raised its stake in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the period. RFP Financial Group LLC raised its position in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Perkins Coie Trust Co lifted its stake in shares of General Mills by 769.2% in the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the period. Finally, GoalVest Advisory LLC grew its position in General Mills by 65.5% during the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 0.6 %

NYSE GIS opened at $71.23 on Wednesday. The stock’s 50 day simple moving average is $72.27 and its 200 day simple moving average is $69.20. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The firm has a market cap of $39.76 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is presently 55.68%.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on GIS. The Goldman Sachs Group started coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Citigroup raised their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI reduced their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Finally, Argus reissued a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.00.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.